Tech

NetSuite posts bigger second-quarter loss

SAN FRANCISCO (MarketWatch) -NetSuite Inc. on Thursday reported a bigger second-quarter loss, but also posted higher revenue as the company signed new customers.

The San Mateo, Calif.-based business software company reported a second-quarter loss of $5 million, or 8 cents a share, compared with a loss of $3.1 million, or 5 cents a share, for the year-earlier period.

Revenue was $40.3 million, up from $36.6 million for the same quarter last year. Adjusted income was 1 cent a share.

Analysts had expected the business software company to post flat earnings, on revenue of $40.1 million.

NetSuite
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said revenue from the Americas totaled $32.5 million, while revenue from international regions was $7.8 million.

In a prepared statement, Chief Executive Zach Nelson said the company generated operating cash "well ahead of our plan."

"We're particularly pleased that we not only acquired more new customers during the quarter, but we did so at a higher average sales price," he added

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